When Luz Romero heard about a rental property for sale a few years ago, she jumped at the opportunity to become a landlord.

She and her husband renovated the Niagara Falls, Ont., semi-detached home and attempted to build a good relationship with the tenants they inherited, she said.

The home has two rental units — one on the main floor, where one couple lives, and a basement apartment, home to a single renter.

When the main-floor tenants were late on their $1400-a-month rent payments a few times last year, Romero said she was understanding and gave them extensions.

But since

Key takeaways

Australia is in an unprecedented rental crisis and there is no end in sight.

Rentals are growing at double digit rates and vacancy rates are at historic lows.

However some markets are strongly outperforming others as the tables below show

We’re suffering an unprecedented rental crisis with no end in sight.

Capital city rental markets have continued to report higher rents and fewer vacancies generally over December, ending 2023 with more bad news for tenants.

Adelaide was the top monthly performer with weekly house rent increasing sharply by 4.3%, followed by Perth and Melbourne each up 3.5%, Hobart